The survey, slated for September issuance, will help the FAF evaluate the effectiveness of the accounting standards by hearing from users, preparers, auditors, academics, and regulators that are affected by it. Stakeholders who would like to be considered to participate in PIR surveys conducted by an independent survey firm on behalf of the FAF should register online. Stakeholders that have specific questions on the PIR of GASB Statements No. 3 and No. 40 can contact the FAF at 3and40-PIR@faf-gasb.org.

The post-implementation review process is intended to assist the FAF’s Board of Trustees with its ongoing efforts to evaluate the effectiveness of the standard-setting process for both the GASB and the Financial Accounting Standards Board (FASB). The GASB sets standards for state and local governments, while the FASB sets accounting standards for public and private companies and not-for-profit organizations.

The PIR process is designed to be independent of the standard-setting process of the GASB and the FASB. The FAF review staff reports to the Trustees and FAF president, but are drawn from experienced GASB and FASB staff to promote a collaborative review process aimed at improving the standard-setting process. More information on the FAF’s post-implementation review process can be found on the FAF website.

About the Financial Accounting Foundation

The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board (FASB) and its counterpart for state and local government, the Governmental Accounting Standards Board (GASB). The Foundation is also responsible for selecting the members of both Boards and their respective Advisory Councils.

About the Governmental Accounting Standards Board

The GASB is the independent, not-for-profit organization formed in 1984 that establishes and improves financial accounting and reporting standards for state and local governments. Its seven members are drawn from the Board’s diverse constituency, including preparers and auditors of government financial statements, users of those statements, and members of the academic community. More information about the GASB can be found at its website, www.gasb.org.